The Goldman Sachs Group (NYSE:GS) Posts Quarterly Earnings Results, Beats Estimates By $3.01 EPS

The Goldman Sachs Group (NYSE:GS) released its quarterly earnings data on Monday. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.57 by $3.01, RTT News reports. The business had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.79 EPS.

The Goldman Sachs Group Price Performance

NYSE:GS traded up $13.77 during trading hours on Monday, reaching $403.26. 2,589,820 shares of the company traded hands, compared to its average volume of 2,271,657. The firm’s 50-day moving average is $394.74 and its 200-day moving average is $364.03. The stock has a market cap of $130.87 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.51 and a beta of 1.43. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.76 and a quick ratio of 0.76. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $419.20.

Analyst Ratings Changes

Several analysts have commented on GS shares. Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. Morgan Stanley raised The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $333.00 to $449.00 in a research note on Tuesday, January 30th. Evercore ISI increased their target price on The Goldman Sachs Group from $418.00 to $435.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $390.00 target price on shares of The Goldman Sachs Group in a research note on Wednesday, March 27th. Finally, Edward Jones started coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $423.05.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the sale, the insider now owns 10,121 shares in the company, valued at $3,809,443.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Lee sold 3,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the sale, the insider now owns 10,121 shares in the company, valued at approximately $3,809,443.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,907 shares of company stock worth $15,080,021. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. FIL Ltd raised its position in shares of The Goldman Sachs Group by 347.4% in the 4th quarter. FIL Ltd now owns 81,753 shares of the investment management company’s stock worth $31,538,000 after buying an additional 63,481 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $130,000. SageView Advisory Group LLC purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $505,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $4,108,000. Finally, Childress Capital Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $239,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.